Vietnam’s car market saw an 86 per cent upswing in sales last February 2025. The Southeast Asian nation is seeing a significant boost for both imported and locally assembled vehicles on-year.
SALES STATISTICS
The Vietnamese Automobile Manufacturers Association (VAMA) released its monthly sales report for the month of February. The report revealed an 85.7 per cent uptick on-year in overall vehicle sales with 21,606 units sold, including imports from non-VAMA members. Passenger car sales amounted to 11,450 units, while 4,823 commercial vehicles were sold last month. Hybrid vehicles fared better compared to February of last year with 756 units sold, an improvement from only 205 units last year. Special purpose vehicles (SPV) also more than doubled in sales with 152 vehicles sold, almost triple an improvement from last year’s sales of 53 units.
Among VAMA members, Toyota came out as the best-selling brand for February 2025. The Japanese automaker sold 3,114 vehicles and acquired 14.4 per cent of the market share. This is nearly a 150 per cent increase compared to last year’s sales of 1,248 units.
Ford follows Toyota at a close second with 2,758 vehicles sold and 12.8 per cent market share. The American company saw an improvement in sales of 65.7 per cent on-year.
The three subsequent best-sellers were under the Thaco group—namely, Thaco Kia, Mazda, and Truck. All three saw improvements in sales, especially Thaco Truck which sold 147.6 per cent more vehicles compared to February last year. Thaco BMW and Bus Thaco, on the other hand, lag far behind with 152 vehicles and 127 buses sold respectively. Though their sales are lower than their sub-group counterparts, both BMW and Bus Thaco saw improvements from double-digit sales last year.
Dothanh saw the biggest increase in sales with a 605.3 per cent surge compared to sales in February last year. The Vietnamese auto manufacturer sold only 19 vehicles last year but sold 134 vehicles this year.
Suzuki, Lexus, Vinamotor, and SAMCO all saw decreases in their respective vehicle sales. Most notably, Vinamotor and SAMCO sold 36 and 16 vehicles respectively last year, but only 7 and 2 vehicles this year so far.
VINFAST DOMINATES THE MARKET
Meanwhile, non-VAMA member VinFast revealed that its February sales have increased by 25 per cent month-on-month. The Vietnamese EV maker reported 12,500 deliveries only for the month of February. Total deliveries from both January and February are now up to 23,000. VinFast currently holds 33.7 per cent of Vietnam’s total auto market share.
Majority of VinFast’s deliveries were comprised of 5,200 units of the VF3 model and 3,000 were of the VF5. The VF3 proved to be nation’s best-selling vehicle of February, beating out even the Ford Ranger, Mitsubishi XPander, and the Mazda CX-5.
In positive news for EV drivers, Vietnam’s Ministry of Finance extended its tax exemption for battery electric vehicles (BEV) to February 2027. This may strengthen VinFast’s performance in the market even further.
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